Crypto people, we love you.  Believe it.  All of our belief in separating money, church and state is about the only thing that makes sense in today's world.  Well, that and the fabulous Publish0x, always and forever taking it to the next level with that humming crowdsourced hive mind!  And what wild times we have.  Paypal is offering $15 bucks for freedom of speech.  Kanye West said white lives matter, so Chase unbanked him?   Can you say censorable.  Let's honor Kanye with his hit with Jay Z back when noone knew who Ye was. Now Chase doesn't know who he is.   Maybach's are German, but Jay-Z and Kanye surely made this one american.  In doing so, destroyed about 80% of it's value, lol.
 The Maybach still had its twin turbo V-12 descended from Panzer tanks.  Zero to sixty in 5.1 seconds, ya need a good jump off the line on a biggish bike to beat that!  
We love Jay-Z dragging the steel glove to make sparks.  We used to do that on bikes at night on dark highways with steel toed boots, very dramatic!! Yer supposed to do it with steel TIPPED boots, or steel plates on the sole. 

Dear readers know we are not alone in our love for Mohamed El-Erian, the head econ at eternal bond giant Pimpco.  Sorry, Pimco.  Mo came out this week and said the scary part out loud - the people who enjoy the power of printing fiat will fight like hell to never let it go.  THAT's halloween scary!! 

Crypto in the FT!! Yes baby yes, what do we get?  The UK, BoE, Germany, the Fed, the IMF and the Wasp rugby club all agree the outlook looks like hell, inflation, rates rising, GDP's taking, the world hates the strong "wrecking ball" dollar.  On the upside, the FT actually printed the words "Laffer curve" ( when tax rates go down tax revenues go up) which is good news!  Even tho it was just to make fun of Truss trying to stick to her guns. 

The cliches are flying.  When the tide goes out, ya see who was swimming naked.  No wait, dead bodies are beginning to float to the surface, pension funds first, there will be more.   The too strong dollar is the green monster, a vector of pain. Monetary pain is America's leading export.  Meanwhile, Zuck's Meta indicates distain for the unwashed masses, the necessary headset is dropped at a painful $1,500 a pop. 

Crypto that won't say crypto:  are those nasty pop stars too uncensorable for ya?  China thinks so, time for the robots there too! TLDR: don't worry, eventually the avatars will commit tax fraud just like the real ones. 

Crypto that SAYS crypto:  the FT works in a dig on crypto in a puff piece about a pressing  fintech need the author’s new company will soon service, let's just skip that.

In all this pain, can the FT find the time and a way to do a hatchet job on crypto despite all evidence to the contrary about adoption?? Of course they can!!! TLDR: OMG!! Binance lied!!  The Directors of Dimplx said so, & they are part of a JV with Binance!!  The real story:  it's all downhill from there in this obvious hack job. 

 Rehash of the FCA banning (&spitting on)  Binance and Binance trying to turn the other cheek. 

The allegations from Dimplx ( no, not DImplex) have yet to be proven. This is embarrassing, Dimplx says they meant to sue Binance, but ya, they never did, and won't even say on what grounds they thought they might. 

Binance replies - since the minority shareholders are threatening litigation, we can't really talk, but we understand they are sad the JV did not bear fruit.  That's another step down, but there are many left. 

The FT misleadingly says that Dimplx was named as responsible for all Binance crypto forex transactions.  That's a whopper, clearly the two year old JV was going to do forex  for Binance UK only.  WE WANNA NOTHER CORRECTION!!!  Quit lying, FT!!    Binance is the biggest crypto exchange by far, they already do more forex than three south african newbies can dream of!! 

Where's the meat?  Binance said the JV for the UK, Binance Digital held $100mm in cash and the same in liabilities.  So?? Oh, the Dimplxers claim the 100mm belonged to clients.  Well, those two statements match up perfectly-deposits and liabilities 100% equal!  Dimplx whines: customers trading on Binance.com would be "liable to pay transaction fees."  Why yes, yes they would, that's how exchanges work !!  But only if the FCA ALLOWS exchanges to work!! 

This is getting very boring, we know.  Next Dimplx said Binance said there was zero turnover in fees or transactions!  Well YEAH CAUSE BINANCE NEVER GOT A LICENSE!!! W the actual F. 

Finally, Binance would not bother answering if they had collected transaction fees, nor where the 100mm came from. Binance said no turnover or revenue was recorded, and the company paid no UK tax.   Well, FT,  there is a lie right there.  Binance said NO turnover or revenue, that means they did say NO transaction fees.  Again, no chit, no license, no trades, no turnover, no tax.  Cause THAT’S how it works, when the FCA won't give a license, then the UK gets NO TAX REVENUE!! 

Clearly the 100mm was deposits from people who thought they could use Binance UK, but they never could, thanks FCA!! 

NOT in the FT:  Dimplx is nothing, they are not even on linkedin.   Dimplx came from nowhere and shall return, three South Africans none of whom are on linked in for ANY reason.  Sounds impressive when you say the directors of the JV,   huh?? until you find out only three guys "worked"  there and they are all directors!!  They did not work hard enough at that, or anything else in their career,  to be on linked in, mind you.  But hey they are all "Directors” now!!!

So, where were we?  The "grossly inaccurate" filings - everyone agrees that there is 100mm in cash and liabilities.   And there WAS zero turnover, trades, fees, forex, revenues, and taxes!!

Also NOT in the FT - the only reason this came to light is Dimplx are trying to value themselves and the ONLY thing they EVER had was 20% of CZ's JV.  So, Dimplx thinks they should be worth a lot, claiming that the 100mm deposited, still owed to the clients, should have  incurred transaction fees (for converting cash to cash??)     Does Dimplx get paid fees when the cash is returned to the owners??

FU, DImplx, knock yourself out and sue Binance.  Prediction!! they never will.  It's very funny, Dimplx, (FT for that matter) yer so cute when you misdirect your hate, the FCA are the ones who killed your deal. 

We insist on giving the FT  FU's over this pile of spin and blather.  We thought five out of five FU's would be apropos, but Judges deny and will only allow one FU through.  C'mon judges, look at the rap sheet on the FT's anti-crypto diatribe!! Ah well.  Crazy times, crypto lovers!! We wish the FT would just print NO crypto if all they have is neggy BS.  We could move on!!  Let us GO then FT if you hate us so much!!

to add insult to injury, ZERO FT crypto online today. 

But we love Y'ALL and crypto enough for both us and the FT!! ar ar ar.  Gotta sleep, 

peace, 

Love

Dave

Can't you see the private jets flyin' over you?
Maybach bumper sticker read, "What would Hova do?"
Jay is chillin'(uh), 'Ye is chillin' (uh)
What more can I say? We killin' 'em
Hold up, before we end this campaign
As you can see, we done bodied the damn lames
Lord, please let them accept the things they can't change
And pray that all of their pain be champagne